Indian 500 and 1000 rupee note Demonetisation / Demonetization Quiz

1. Why has the demonetization scheme been introduced?
[Category: Demonetization in India GK]
[A]To stop fake Indian currency notes
[B]To counter anti-national and illegal activities
[C]To Attack hoarding of black money
[D]All of the above


2. Is this the first time demonetization happening in India?
[Category: Demonetization in India GK]
[A]Yes
[B]No, this happened first in 1947
[C]No, this happened first in 1978
[D]No, this happened 2 times already. 1947 and 1978


3. Which currency notes are demonetized in India on 8th November 2016?
[Category: Demonetization in India GK]
[A]100
[B]500
[C]1000
[D]B and C


4. What is demonetization of currency notes?
[Category: Demonetization in India GK]
[A]Devaluing the currency with respect to international currencies
[B]Declaring the currency notes as NOT legal tender
[C]Replacing the old and soiled currency notes
[D]Replacing notes with coins


5. Of what denomination new currency notes are printed?
[Category: Demonetization in India GK]
[A]500
[B]1000
[C]2000
[D]A and C


6. Where can one exchange the Old High Denomination (OHD) notes after 25th November 2016?
[Category: Demonetization in India GK]
[A]Banks
[B]Post Offices
[C]RBI Offices
[D]All of the above


7. What is the amount one can withdraw for the purpose of wedding?
[Category: Demonetization in India GK]
[A]50000
[B]100000
[C]200000
[D]250000


8. How much money one can withdraw from ATM as on 28th November 2016?
[Category: Demonetization in India GK]
[A]1000
[B]2000
[C]2500
[D]10000


9. How much money one can withdraw from cheque as on 28th November 2016?
[Category: Demonetization in India GK]
[A]10000 per week
[B]15000 per week
[C]24000 per week
[D]25000 per week


10. What percentage of money in circulation consists of 500 and 1000 notes?
[Category: Demonetization in India GK]
[A]50%
[B]65%
[C]77%
[D]86%